Take-Two Interactive Software (NASDAQ:TTWO) stock is on the move Friday following the release of the video game publishing company’s preliminary fiscal Q4 2024 earnings report.
The bad news for TTWO stock comes from its net loss of $2.9 billion, or $17.02 per share. That’s a massive drop compared to its net loss of $610.3 million, or $3.62 per share reported in the same period of the year prior.
Take-Two Interactive Software also reported revenue of $1.4 billion for the quarter. That’s better than the $1.32 billion that Wall Street was expecting.
Take-Two Interactive Software chairman and CEO Strauss Zelnick said the following in the earnings report.
“As we enter Fiscal 2025 with positive momentum, we expect to deliver Net Bookings of $5.55 to $5.65 billion. Our outlook reflects a narrowing of Rockstar Games’ previously established window of Calendar 2025 to Fall of Calendar 2025 for Grand Theft Auto VI.”
TTWO Stock Movement Today
The Take-Two Interactive Software earnings report has the company’s shares seeing heavy trading today. This has more than 1.9 million units changing hands as of this writing. That’s above its daily average trading volume of about 1.7 million shares.
TTWO stock is up 2.4% as of Friday morning.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
